Stocks nudge higher after U.S. employment growth slows sharply

Stocks nudge higher after U.S. employment growth slows sharply

LONDON - U.S. stock markets rose on Friday after data showed U.S. employment increasing far less than expected in September amid a decline in government payrolls. The move was measured, however, as investors weigh a more uncertain outlook for the strength of the U.S. economic rebound against what the jobs growth slowdown means for the Federal Reserve's expected announcement in November of a tapering of its asset purchases. "The weak print in the headline nonfarm payrolls number will question the Fed’s intention to taper its accommodative monetary policy, and those doubts are translating into a weaker dollar," said Sam Cooper at Silicon Valley Bank. By 1250 GMT, Wall Street looked set for a stronger opening, with the S&P 500 futures up 0.26%. European stocks were broadly unchanged and remained lower on the day. The Euro STOXX 50 was 0.22% weaker, while the German DAX dropped by 0.2%. Britain's FTSE 100 was barely changed. Ten-year U.S. Treasury yields rose to as high as 1.6%, their highest since June when they touched the same level, ahead of the payrolls release. By 1250 GMT they were up 1 basis point at 1.58%. Stocks looked set to hold most of the previous session's gains